OREANDA-NEWS. February 03, 2011. The Bank of Moscow and Sistema, the largest diversified public financial corporation in Russia and the CIS, today announced the creation of OJSC RTI.

Sistema will contribute its 97% stake in OJSC Concern RTI Systems, as well as RUR 2.88 bln in cash to the new entity’s charter capital, while the Bank of Moscow will make a RUR 3 bln cash contribution. As a result, the Bank of Moscow will receive a 15.4% stake in RTI, while Sistema will control 84.6% of the new entity.

The Bank of Moscow joins Sistema as a partner in developing RTI Systems, one of Sistema’s most important assets. The cooperation aims to implement RTI Systems’ investment program, particularly with regards to large-scale state projects, including the development of geomatics and GLONASS systems, as well as to improve financial performance and raise the investment profile of OJSC RTI.